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How can I get the tax credit for a one time buyer of a house…

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How can I get the...
How can I get the tax credit for a one time buyer of a house? My wife owns her own house the title is in her name and the loan is in her name. The house I bought April 2009 is in my name and the loan is in my name. I live in the house I bought with my daughter, but ny wife and I file joint tax returns. What can I do.
Submitted: 8 years ago.Category: Tax
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Answered in 4 minutes by:
6/21/2010
Tax Professional: Merlo, Accountant replied 8 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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Hello rwill,

 

In order to claim the first time homebuyer credit, if you are married the IRS tests the home ownership history of both spouses. In other words, if you or your wife either one have owned a principal residence in the last 3 years, that automatically disqualifies the other spouse from purchasing a home and claiming the credit. It would not matter that your name is XXXXX XXXXX the title or the mortgage to your wife's home and it also does not matter that you do not reside in the same home as your wife.

 

So if you were married at the time you purchased your home in April 2009, and your wife already owned a home, this would prevent you from claiming the credit.

 

I am sorry I could not give you a more favorable answer, but unfortunately those are the rules provided by the IRS.

 

If this was helpful please press the Accept button. It is the only way we receive any credit for helping with these questions.

 

Thank you rwill

 

 

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